Equus Total Return, Inc. Announces Write Down of Its Investment in Nickent Golf
January 02 2009 - 4:36PM
PR Newswire (US)
HOUSTON, Jan. 2 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) (the "Fund") announces a write down of its debt and
equity investment in Nickent Golf, Inc. ("Nickent"). The write down
from $8.43 million to $180,000 is based on Nickent's current
financial condition and the effects of the market economy on
Nickent's business. The remaining fair value of the Fund's
investment represents a short-term loan secured by certain accounts
receivable of Nickent. Today's write down follows a write down from
$9.18 million to $8.25 million at September 30, 2008. Previous to
today's write down, the investment represented approximately 8.7%
of the Fund's total net assets. Equus is a business development
company that trades as a closed-end fund on the New York Stock
Exchange, under the symbol "EQS". Additional information on Equus
Total Return, Inc. may be obtained from the Equus website at
http://www.equuscap.com/. This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Fund's current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in
the Fund's filings with the Securities and Exchange Commission.
Actual results, events and performance may differ. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Fund
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the fund or any other
person that the events or circumstances described in such
statements are material. CONTACT: BRETT CHILES (713) 529-0900
DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles of Equus
Total Return, Inc., +1-713-529-0900 Web site:
http://www.equuscap.com/
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